Allspring Global Investments Holdings LLC lowered its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 3.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,700 shares of the Wireless communications provider's stock after selling 1,520 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.17% of InterDigital worth $8,955,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of InterDigital by 1.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,932 shares of the Wireless communications provider's stock valued at $568,000 after purchasing an additional 51 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of InterDigital by 3.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,914 shares of the Wireless communications provider's stock valued at $396,000 after purchasing an additional 59 shares during the period. Flagship Harbor Advisors LLC grew its position in shares of InterDigital by 4.3% in the first quarter. Flagship Harbor Advisors LLC now owns 1,821 shares of the Wireless communications provider's stock valued at $377,000 after purchasing an additional 75 shares during the period. Summit Investment Advisors Inc. grew its position in shares of InterDigital by 3.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,646 shares of the Wireless communications provider's stock valued at $513,000 after purchasing an additional 83 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of InterDigital by 1.9% in the fourth quarter. HighTower Advisors LLC now owns 6,309 shares of the Wireless communications provider's stock valued at $1,222,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 99.83% of the company's stock.
Insider Transactions at InterDigital
In related news, Director Samir Armaly sold 779 shares of InterDigital stock in a transaction on Monday, June 9th. The stock was sold at an average price of $226.52, for a total value of $176,459.08. Following the transaction, the director owned 3,128 shares in the company, valued at approximately $708,554.56. This trade represents a 19.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jean F. Rankin sold 606 shares of InterDigital stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.47, for a total value of $137,240.82. Following the completion of the transaction, the director owned 27,353 shares in the company, valued at $6,194,633.91. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,762 shares of company stock valued at $822,994 in the last ninety days. Company insiders own 2.30% of the company's stock.
InterDigital Trading Up 1.2%
Shares of NASDAQ:IDCC traded up $2.76 during midday trading on Friday, reaching $224.36. The company's stock had a trading volume of 120,699 shares, compared to its average volume of 371,400. InterDigital, Inc. has a 1 year low of $120.18 and a 1 year high of $237.50. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.43 and a beta of 1.36. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $218.49 and a 200 day moving average price of $205.89.
InterDigital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Wednesday, July 9th. InterDigital's payout ratio is currently 19.03%.
InterDigital Profile
(
Free Report)
InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.
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